The concept of a Unique Selling Proposition (aka USP) is a most misunderstood and often sadly neglected concept.
Are you a business owner that is neglectful in this area?
If you are, I dare say it’s because you have not seen the value in terms of increased profitable sales of having a properly crafted USP.
That’s OK Paul, I hear you say, “All I want to do is sell my products and/or services to customers or clients that need them and make some money.”
Well, sure, everyone gets into business to make money but sadly the statistics tell us that upwards of 69 per cent (depending on the source) go broke – so they sure don’t make any money.
What about you? Are you achieving what you want?
If not, then a critical component is to understand and develop your USP.
How critical? Well, in the words of Jay Abraham, business growth specialist extraordinaire:
“Your entire marketing and operational success should be built upon your USP. Your USP may touch any part of the marketing gamut – price, service, quality or exclusivity.”
The possibilities for creating a USP are endless.
Where to start you ask?
It’s best to create a USP that dynamically addresses an obvious void in the marketplace that you can fill.
Warning: Don’t create or adopt a USP if you cannot fulfil the underlying promise.
My experience with most business owners is that they are unable to clearly and concisely (one paragraph or less) articulate their USP.
Why is this?
It’s because they have never thought through their uniqueness. Rather, they offer a “me too”, rudderless, nondescript kind of product or service that feeds solely upon the ebbs and flows of the marketplace. They promise nothing unique, distinct or of quantifiable value. Just a “buy from us” for no justifiable reason.
What about you?
I put it to you that customers expect special consideration in exchange for their business.
The small fraction of businesses that adopt a dynamic USP have a profound advantage over their competitors - and I’m guessing your industry has some competition, so you’d like that advantage wouldn’t you?
Identify needs that are unfulfilled in your industry
How do you create or pick or USP? Identify the needs that are unfulfilled in your industry.
These could be needs associated with:
A broad selection
Big discounts
Advice and assistance
Convenience (location, immediate delivery, fully stocked shelves)
Top shelf products
Speedy service
Services above and beyond what is expected
A longer or in some way differentiated guarantee
The key is to find and focus on a gap or niche.
The USP is the nucleus around which you build your success, fame and wealth so you’d better be able to state it.
And if you can’t state it your prospects won’t see it.
You need to boil your USP down to its essence.
Try it with pen and paper. Go on … NOW.
Write a one-paragraph statement of your new USP. At first you will probably have trouble expressing it tightly and specifically. It may take two or three paragraphs.
Now, ruthlessly edit away the generalities and focus a crisp, clear statement that promises the most you could possibly offer.
Once you have identified and refined your USP you need to reinforce it in every part of your marketing.
It needs to be integrated into your ads, mailing pieces, email, letterhead, scripts used by sales, field and customer service staff and in your post purchase follow up with your customers.
Action:
If you don’t have a USP – who is responsible in making it happen? And, by when?
If it’s all a bit much and you’d like some street smart help, then by all means it will be our pleasure to assist you.
Send me an email to USP@rightteam.com.au with your name, contact details and best day and time to call and I’ll contact you on my return from Alberta, Canada after 16 July 2007.
(By time you read this I will be in Canada on business for a couple of weeks.
Yeah, I know some people have all the fun - big SMILE).
If you want to know what I’ll be getting up to after doing business then check out www.calgarystampede.com
It’s a huge outdoor party of city wide proportions!
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